A MELBOURNE house built entirely by volunteers fetched more than $100,000 over its reserve price on the weekend, with every cent of the proceeds going to a children’s charity in Frankston.
A crowd of 140 people watched as four bidders competed for the new home at 48 Tamara Circuit, Langwarrin, selling above its $495,000 reserve.
Couple Michael and Kim Benson won the charity auction on Saturday, paying $600,000 for the four-bedroom house.
All of the proceeds will go to the children’s charity Menzies Caring for Kids that supports young people in Frankston and the Mornington Peninsula.
Buy Property Direct and partner company Mainline Developments drove the project with the help of 35 companies that provided building supplies, labour or support for free or at a discounted rate.
Any extra costs were covered by the two businesses so that 100 per cent of funds raised would go to the charity.
In the wider Melbourne auction market, there was an auction frenzy throughout the inner south with an 84 per cent clearance rate last week, according to CoreLogic RP Data.
A standout sale from the 224 auctions held in the inner south was 797 Hampton St, Brighton.
The luxury residence, with four bedrooms, three living zones and a swimming pool, sold under the hammer for $3.55 million.
Buxton, Brighton, auctioneer John Clarkson said it was one of 12 auction sales that his office sold either under the hammer or shortly afterwards at the weekend.
In South Melbourne, Greg Hocking, of Greg Hocking Holdsworth, sold a 513sq m block to developers for $3.97 million.
Six bidders fought out the auction of 227-229 Cecil St, featuring two older-style homes on the same title on the street corner.
The agents said pent-up demand among buyers and disruptions to this autumn selling season with an early Easter were fuelling strong selling conditions at the moment.
“Right now sellers are enjoying the pent-up demand released from the Christmas period and that’s evident in the clearance rates,” Mr Hocking said.
Mr Clarkson said the timing of the upcoming Labour Day and Easter public holidays, as well as the school holidays, would disrupt auction campaigns in March.
There were 1327 auctions across Melbourne last week, delivering a 75 clearance rate, according to CoreLogic.